Bitcoin Roundtable May Have Found an Agreeable Solution for Block Size Issue
Recent Bitcoin Roundtable meeting suggests the implementation of SegWit and Core hard fork as solution to block size debate. Bitcoin network may be eventually heading towards the hard fork even after the Bitcoin Roundtable community disagreed with the idea of creating a hard fork of blockchain. According to the community, there is a possibility of the hard fork creating two separate blockchains that do not communicate with each other. In such circumstances, the whole bitcoin network can be segmented into two versions, one that works and another that doesn’t.
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Chinese miners would not need to worry about explosive block size growth either, as the maximum rate of growth is capped at twice the previous size. There will be no jumps from 1MB blocks to 2MB blocks and then suddenly increasing to 8 MB. This should give the local Internet infrastructure enough time to ramp up the overall network speed and [try to] get rid of data caps. For those people looking to see the Bitcoin block size debate coming to an end, that will not be happening anytime soon, unfortunately. Things have gotten more interesting a few weeks ago when rumours....
As much as most people would like to think otherwise, the Bitcoin block size debate is far from over. Various new proposals have been suggested in the past, and another interesting concept was posted on Reddit earlier today. According to this user, a small block size increase should be done first, followed by the integration of Segregated Witness. Addressing the key issue as soon as possible should be the top priority for all Bitcoin developers. Based on the findings of the Reddit in question, Segregated Witness should not be the first and foremost solution to settling the Bitcoin block....
The Crypto Show recently interviewed Johnny Dilley, who runs strategy at Blockstream. Dilley shared his views on the future of Bitcoin’s block size limit, and explained why he’s not worried that a solution has yet to be chosen. Dilley’s calm demeanor in regard to the block size issue seems to be partially based on his excitement over various improvements that are making their way to Bitcoin via soft forks. When asked about the lack of a hard fork to a larger block size limit up to this point, Dilley said that nothing is likely to change over the short term. He explained: “I think, today,....
Is it possible that Ethereum will start facing issues with scaling and governance like bitcoin once it becomes big enough? Bitcoin block size and scaling issue can easily win the debate of the year award if there is anything of that sort. Now, the next best thing in the crypto industry is Ethereum. Ethereum is another crypto-platform for creating blockchain-based applications and smart contracts. Even though Ethereum was not originally designed to be a currency, it has become one due to an increase in its demand, causing its value to soar. Compared to Bitcoin, Ethereum is still in its....
Another Satoshi Roundtable event has taken place this past weekend, which was organized at an unknown location in Florida. The primary goal of this event is was to reach a consensus on the future of Bitcoin development, particularly in relation to the block size issue. Despite the numerous topics and proposals being discussed, no consensus was reached....